Metro Funding Closes a $1,650,000 Loan

PARAMUS, N.J., Feb. 24 -- Metro Funding Corp. (MFC), a private asset-based lender, headquartered in Paramus, N.J., announces the funding of a $1,650,000 loan for the refinance and construction of a 20 acre time share community and existing hotel in Branson, MO.

The borrowers, experienced developers, approached MFC when their long-time construction lender had ceased funding.  "With many lenders disappearing, businesses are forced to shut down.  However, MFC remains stable, allowing borrowers to complete their projects and keep operations moving forward,” says Manager, Guy Ferdman.  After careful underwriting, MFC was able to structure the transaction in a way that benefited all parties and allowed the borrowers to continue running their time share community project successfully. 

Metro Funding Corp., headquartered in Paramus, NJ, is a commercial real estate lending company specializing in asset-based opportunity (hard money) loans.  Metro Funding Corp. provides domestic and international loans to corporate entities.

 

CONTACT: 201-262-6360, for Metro Funding Corp. 

Web site: http://www.metrofundingcorp.com/

Metro Funding Closes a $590,000 Loan

PARAMUS, N.J., Jan. 5  -- Metro Funding Corp. (MFC), a private asset-based lender, headquartered in Paramus, N.J., announces the funding of a $590,000 loan for the acquisition and rehabilitation of a 120 room vacant hotel in Fort Wayne, IN. 

The borrower, an experienced hotel owner, approached MFC with the need to close quickly.  With the borrower’s purchase contract quickly reaching a deadline, the borrower was in need of a quick closing that a conventional bank could not offer.  "Due to current market conditions, borrowers are finding it increasingly challenging to gain financing from conventional banks.  MFC remains stable, though, which makes financing possible for borrowers who have strict time constraints,” says Senior Underwriter, Lana Nichamov.  After careful underwriting, MFC was able to structure the transaction in a way that benefited all parties and allowed the borrower to acquire the property and complete the improvements in time to re-open the hotel.

Metro Funding Corp., headquartered in Paramus, NJ, is a commercial real estate lending company specializing in asset-based opportunity (hard money) loans. Metro Funding Corp. provides loans globally to corporations unable to obtain financing from conventional sources due to the immediacy or complexity of the transactions.

Metro Funding Corp. Sponsors a Distressed Animal Shelter

Paramus, N.J., June 23, 2008 / PRNewswire/ -- Metro Funding Corp. (Metro), a commercial real estate lending company headquartered in Paramus, NJ, recently began sponsoring a distressed animal shelter. Metro became aware that the shelter, appropriately named Room for One More, was in danger of closing due to their property owner and landlord raising the shelter’s lease payments to an unreasonable amount.

Metro Funding Corp.’s decision to sponsor the shelter was based largely on the unique nature of the service that Room for One More provides. The shelter operates as a “no-kill” shelter and maintains approximately 35 to 40 ‘fighting’ dogs at a time. The shelter works intensively to rehabilitate the dogs in an effort to find them stable and permanent homes. Joshua Cederbaum, dog behaviorist for the shelter, explains, “All that most of the dogs need is positive reinforcement and consistent training to get them back on the right track.”

“Room for One More provides an important service by saving these animals and they should not be forced to shut down because the rent is being raised,” reports David Hecht of Metro. Metro Funding Corp. will be aiding the shelter in paying their lease payments until the shelter is able to raise enough funds to make a down payment to purchase the property.

If you would like to find out more about the shelter or to make a donation, please visit the shelter’s website at http://www.rfom.org/.

Metro Funding is seeking "Small Balance Loans"

Unlike many financial institutions today that are tightening their belt, Metro Funding is constantly looking for good investments where we can put our capital to work. In the interest of diversifying our loan base we have allocated $20 Million for use with “small balance” loans. This money has to be out of our hands and into projects within the next 3 months!

How small of a loan?

$2 Million and below will receive very favorable rates and terms, even on land!

What you can expect…

• 12% Interest

• As low as 2 Points on Income Producing properties

• As low as 8 points on land loans!

• No Prepayment Penalty

• All points paid from proceeds at loan closings

• Brokers points honored and protected

All other loan scenarios are also welcome.

Should you have any questions or loan scenarios that you would like to have reviewed feel free to call or email me. I also have a loan submission form that makes it quick and very convenient to submit loans, if it would be helpful to you please request it.

Metro Funding Corp. Closes $3.8 Million Development Loan

May 8 -- Metro Funding Corp. (MFC), a private asset-based commercial real estate lender announces the funding of a $3,800,000 loan to refinance and develop a Roman Bath and Spa Resort in Staten Island, NY. The borrower approached MFC after discovering that they needed funding to bridge their project to a point where a conventional lender would provide permanent financing. "This is a perfect example of how conventional banks are being inhibited by the credit crunch. Borrowers who are heavily invested in great projects are being turned away," says Senior Associate Ben Rutkevitz.

Metro Funding diligently pursued measures that created a win-win situation. The ability to cross-collateralize some of the borrower's additional assets was particularly crucial in this case. The subject collateral is a planned three story 27,760 SF commercial building. In addition to the Roman Spa, the building will include a restaurant and office space. The Spa will be complete in the summer of 2009, while the restaurant and office space are scheduled to be open by the end of 2008.

Metro Funding Corporation Sponsors Charity Event to Prevent Violence Against Children

April 25 -- Metro Funding Corp. (Metro), a private asset-based lender, headquartered in Paramus, N.J., recently sponsored a charity fundraiser in New York City entitled "We are all Children at Heart." The event was organized for Love Our Children USA ™, a national nonprofit leader in breaking the cycle of violence against children.

The fundraiser was a networking event for young professionals from numerous industries and backgrounds. The event raised nearly $20,000 to support the various programs provided by the nonprofit organization.

Love Our Children USA(TM) is in its 9th year as the 'go-to' prevention organization for all forms of violence and neglect against children in the U.S. The organization's website promotes the work of Ghandi, stating that, "We have to be the change that we want to see happen." Metro Funding Corp.'s goals are consistent with this proactive, hopeful and positive message. Its corporate strategy and mission statement promotes involvement with charitable organizations that are making a difference for families, children and communities.

For more information about the event, as well as about Love Our Children USA, please visit this link: www.loveourchildrenusa.org.

Metro Funding Corp. is a commercial real estate lending company specializing in asset-based opportunity (hard money) commercial loans. Metro Funding Corp. provides domestic and international loans to corporate entities.

Metro Funding Corporation Bails Out Fraud Victims

April 24 -- Metro Funding Corp., a private asset-based lender, headquartered in Paramus, N.J., announces the funding of a hard money loan secured by a historic building in downtown Anderson, Indiana.

The borrowers sought out hard money financing after numerous credit lines were fraudulently opened in their names, destroying their credit history. When this happened, their existing bank stopped accepting payment and requested a full payoff. Joe Adler, Associate of Metro Funding Corp stated, "The borrowers were traditionally strong, bankable borrowers. They just had fallen victims of fraud and were having a tough time with their bank." When the borrowers contacted Metro Funding Corp, they explained their situation and were able to secure a loan that paid off their existing lien and also provided operating reserves to hold the company over while their credit issues were alleviated.

Metro Funding Corp. is a commercial real estate lending company specializing in asset-based opportunity (hard money) commercial loans. Metro Funding Corp. provides domestic and international loans to corporate entities.